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CAC 40 Edges Higher As European Commission Sees Stronger Growth
(RTTNews) - French stocks were moving higher on Monday ahead of a busy week of earnings, economic data releases and speeches by Federal Reserve officials.
The euro was trading higher after the European Commission, the executive arm of the EU, said that Eurozone economic growth will be faster than previous forecast this year and next.
In its regular forecast for the 20 countries that share the euro, the EU executive also raised its forecasts for inflation in the region and warned of tighter financing conditions.
The benchmark CAC 40 was up 33 points, or 0.4 percent, at 7,447 after gaining half a percent on Friday.
Insurer Axa jumped 2.6 percent after reporting a rise in Q1 gross written premiums.
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Asian Shares Mixed As Tech Stocks Track Declines In US Peers
Asian stocks ended mixed on Wednesday as investors locked in profits in tech stocks amid concerns over valuations and reports of potential U.S. government equity stakes in major chipmakers.
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14 минут назад
Australian Dollar Falls Amid RBA Rate Cut Speculation
The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as traders expect two or more rate cuts if inflation continues to decline as anticipated.
Earlier this month, the Reserve Bank of Australia (RBA) lowered its cash rate to 3.60 percent from 3.85 percent, as widely expected.
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52 минут назад
New Zealand Hints At More Interest Rate Cuts
The Reserve Bank of New Zealand reduced its key interest rate by 25 basis points to a three-year low and hinted at further easing on Wednesday. The Monetary Policy Committee, governed by Christian Hawkesby, voted to lower the Official Cash Rate to 3 percent from 3.25 percent. The bank has reduced the rate by 250 basis points since August 2024.
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1ч 7мин назад
NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps
The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand decided to cut its key interest rate by 25 basis points and signaled further easing.
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2ч 28мин назад
European Economic News Preview: UK Inflation Data Due
Consumer prices from the UK and the euro area due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK consumer prices for July. Inflation is seen rising to 3.7 percent in July from 3.6 percent in the previous month.
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2ч 49мин назад
China Leaves Benchmark Interest Rate Unchanged
The People's Bank of China maintained its interest rates on Wednesday, as Beijing focus on fiscal policy easing and more targeted measures. The central bank left its one-year loan prime rate at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
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2ч 59мин назад
European Shares Set To Open Lower After US Tech Selloff
European stocks are seen opening lower on Wednesday as investors fret about overheated tech valuations and U.S. government intervention in Intel.
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3ч 21мин назад
U.S. Dollar Advances Against Most Majors
The U.S. dollar strengthened against most major currencies in the Asian session on Wednesday.
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3ч 43мин назад
